The housing market in Georgia is stabilizing after a rocky period. Home sales are leveling out. Although home sales are expected to decrease slightly as interest rates rise slightly, the market is definitely stabilizing. If you are planning to buy a home in Atlanta, now is definitely not a bad time to do so.
Quick Atlanta Housing Facts
Percent of Homeowners in Atlanta: 67.5%
Percent of Renters in Atlanta: 32.5%
Median Atlanta Household Income: $41,994
Average Atlanta Credit Score: 666
Best Area to Live in Atlanta: Peachtree City, Evans
Median Atlanta Home Value: $111,200
How Much Real Estate Can I Afford in Georgia?
As a prospective homebuyer, the first step you must take is to find out where you stand in the housing market. Luckily, we can help you begin this process. First, take a few minutes to ponder the following questions:
- How much am I willing to spend on monthly mortgage payments? If you currently rent, keep in mind that mortgage payments will probably be a little more than rent payments.
- What kind of payment plan will work well for me? Fixed Rate and Adjustable Rate programs are very popular, so you may want to consider those first.
- What are the property taxes like in Indiana?
- What are the interest rates in the area of Indiana I want to live in?
- Use our mortgage rate calculator.
Once you’ve answered these questions, you are ready to start number crunching. Check out our online mortgage calculators. We have a couple different ones, so you can either use the one that best answers your questions, or you can try all of them and get a well rounded idea of you financial situation. At this point, we know you will feel confident about your place in the housing market, and you will be ready to take your next step.
Refinancing In Atlanta
A refinance is a new mortgage that pays off and replaces your existing mortgage. The purpose of refinancing is to take advantage of lower interest rates, and sometimes to change payment plans as well. The general rule of thumb is if your interest rate is 2% above the current interest rate, it is time to refinance. Be sure to talk to your mortgage broker if you think you might be ready to refinance.
This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.